UAE sees an improvement to its global rank for helping digital firms thrive

UAE sees an improvement to its global rank for helping digital firms thrive
Published: 17 September 2019 - 3:15 p.m.

The UAE maintained its top position in the Middle East among 115 countries to help digital companies thrive and traditional businesses harness the digital dividend.

According to the Euler Hermes Enabling Digitization Index (EDI), the UAE's global ranking improved one place to 23rd. The emirate was the only Arab country among the top 35 nations listed. Globally, the UAE is rated as a better place for digital companies beating out the likes of Spain (24), Italy (28) and Portugal (30) among others.

Furthermore, the study rated the UAE 6th for untapped potential when technology companies' market cap is compared with the share of the GDP. Fitch Solutions has also rated the emirate as the most attractive market for IT in the Middle East and Africa region, thanks to its economic diversification as well as demand for the enterprises, retail and construction sectors ahead of Expo 2020. Speaking from a more global perspective, the likes of the USA, Germany, Singapore, Japan, China and Sweden among others rank top in the 2019 edition of the EDI.

China moved to 9th place, improving on its 17th place standing last year thanks to its regulation score, as China has made it easier to start a business in the country by removing lengthy procedures associated with it. India maintained its 44th place in the index with Euler Hermes saying "For India, the culprit is its low connectivity score, with fewer secure internet servers per hundred people than Bulgaria, Ukraine or Brazil. The use of the internet, albeit massive in absolute value, is still not widespread (35 per cent of the population against 48 per cent on average in the world)."

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